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|FHS Achieves Production of 1 Mil Tons of HR Coils in Half Year from Start-up|
|= It contributed to the domestic economy in Vietnam =|
Formosa Ha Tinh Steel (FHS), a group company of Formosa Plastics Group of Taiwan, released to have achieved production of 1 million tons of hot-rolled (HR) steel coils on December 13 as per schedule of this year.|
FHS conducted blowing-in of the No.1 blast furnace (4,350 m3) on May 29 this year and has commenced integrated steel operations under the political assistance of the Vietnamese Government and the technical assistances of China Steel of Taiwan and JFE Steel of Japan, both of which are shareholders of the company. The company is planning to conduct blowing-in of the No. 2 blast furnace in 1H 2018 towards building of an annual production system of 7 million tons.
FHS's employees are 7,0000 people. The tax revenue from that company accounted for 99.4% of that from oversaes companies in the province of Ha Tinh and contributed to 0.45% of the GDP in 2017. After a start of operations of the No. 2 blast furnace, the company will contribute the GDP further to 1.27%.
According to the Southeast Asian Iron & Steel Association, in 2016, Vietnam's production quantity of steel products was 8,660 thousand tons (abbreviated as t/t), its imports of steel products were 17,480 t/t, and its consumption of steel products was 22,350 t/t. FHS intends to cope with an increase in domestic demand for steel products, development of products and stable supply.
|last modified : Fri 22 Dec, 2017 [10:11]|